Highlights for Metro Denver in 2010
• Job Losses Beginning 4th quarter of 2008, the US recession hit Colorado and the Metro Denver area. In 2009 the rate of job losses in Metro Denver exceeded the national rate after resisting change in 2008.
• New Jobs Several companies relocated new headquarters operations here. Sectors include
renewable energy and healthcare. Neither large construction projects nor large increases in jobs can be expected in 2010 from these relocations. They set the stage for stabalizing the economy.
• Unemployment Unemployment rates about 8.2%, like in the 1980s, are expected for 2010.
• Housing Market Metro Denver is healthier than most of the US due to a decrease in unsold inventory and stabalizing home prices in many neighborhoods. Home sales should rise in 2010.
• Foreclosures Depending on job stability and the effectiveness of foreclosure avoidance probrams, there should be fewer foreclosures in 2010 than in recent years.
• Commercial Real Estate Due to tighter credit and decreased demand, the commercial real estate market is weak, yet it is still healthier than in other metropolitan areas nationwide.
• OVERALL "Metro Denver continues to attract businesses with the potential to support growth in the long term. The fact that businesses have moved to the region even during recession itself speaks to the region’s competitive advantages. While the recovery may prove underwhelming in 2010, the rebuilding, restructuring, and repair that will happen throughout the year will set the stage for more stable growth in the long term."
• Job Losses Beginning 4th quarter of 2008, the US recession hit Colorado and the Metro Denver area. In 2009 the rate of job losses in Metro Denver exceeded the national rate after resisting change in 2008.
• New Jobs Several companies relocated new headquarters operations here. Sectors include
renewable energy and healthcare. Neither large construction projects nor large increases in jobs can be expected in 2010 from these relocations. They set the stage for stabalizing the economy.
• Unemployment Unemployment rates about 8.2%, like in the 1980s, are expected for 2010.
• Housing Market Metro Denver is healthier than most of the US due to a decrease in unsold inventory and stabalizing home prices in many neighborhoods. Home sales should rise in 2010.
• Foreclosures Depending on job stability and the effectiveness of foreclosure avoidance probrams, there should be fewer foreclosures in 2010 than in recent years.
• Commercial Real Estate Due to tighter credit and decreased demand, the commercial real estate market is weak, yet it is still healthier than in other metropolitan areas nationwide.
• OVERALL "Metro Denver continues to attract businesses with the potential to support growth in the long term. The fact that businesses have moved to the region even during recession itself speaks to the region’s competitive advantages. While the recovery may prove underwhelming in 2010, the rebuilding, restructuring, and repair that will happen throughout the year will set the stage for more stable growth in the long term."
These findings fit what we're tracking at Your Castle Real Estate. There is much opportunity in this time period as the economy shifts.
